What percent of your income do you put away for retirement?

[Jase]

I have been... let's say "undersaving" for several years.  Pay raises over the years had shrunk what was 5% of my income that I was saving down to 3%, so I doubled my contribution up to 6%.  Either way, I've been working for 8 years out of college, and I barely have enough for one year of retirement.

 

I've heard that you should save a minimum of 10% of your income.

I've heard that you should max out the contribution limits.

 

It must be nice to have so much disposable income that you can sock away that much money.

 

What say you?.

[pstall]

It may seem painful if not logical but pay off your debts first then go back and blow up your retirement fund. Then you can sock away 10-20 % a year if not more.

[The_Light_Brigade]

I contribute 10%.  It's incredibly difficult to look at my paycheck and realize I could use that money but I can't bring myself to change it.  I looked at a website that calculated how much money you made and projected that over your 30 year career taking into account the market and so on.  It gave me a dollar amount that I should be saving.  I took that amount and rounded it up to the nearest hundred.  In addition to my 401k, which gets a 5% match, I contribute to a 457b and Roth IRA.  My family has scared the hell out of me because they say how little they have for retirement.  I'm trying my best to prevent that from happening to me. 

[g5jamz]

Not enough. 

 

I laugh at the Social Security estimate information that comes yearly in the mail.  Does anyone expect those benefits to be there?

[Jase]

Not enough. 

 

I laugh at the Social Security estimate information that comes yearly in the mail.  Does anyone expect those benefits to be there?

 

nope

 

everyone under the age of 35 should probably operate on the expectation of getting nothing.

 

I am also expecting the govt to try to tax Roth IRA distributions by the time I retire

[PandaPancake]

I do 30% between an ira, savings account, and 401k. But I have no kids, drive a 25 year old car that I fill once a month, and no debt other than a car I bought my mom.

If I just had that money laying around it would be nothing but hookers and blow. I've been very fortunate.

[Davidson Deac II]

Probably about 10%.  Its a little low, but I also will be eligible for a pension.

 

 

[Scrumtrilescent]

We are fortunate enough to be able to max out our employment 401Ks.  We also have 529s, IRAs, etc.  My ass ain't working when I'm 55 or 60.

[Hawk]

live for today...you might get hit by a bus tomorrow!!!

 

 

15% right now as well as a couple other long term investments....never enough but there needs to be a line between having fun today and planning for tomorrow.

[Doc Holiday]

I'm required to pay in 7% right now, with an employer match. it's a long story but I wish they would just let me opt out but I can't.

[pstall]

nope

everyone under the age of 35 should probably operate on the expectation of getting nothing.

I am also expecting the govt to try to tax Roth IRA distributions by the time I retire

I can totally see this happening.

[Inimicus]

Ive averaged about 10% over the last 15 years.  During the last ten years I had an additional 8% thrown in by my employer.

 

Due to a wedding this past year and changing jobs, Im not making contributions to my retirement at this time but that will change in a couple of months when I get everything squared away with the new gig.

[Dexterity]

15% 401K; matched by employer

10% Roth IRA; matched by employer

25% pays bills & living expenses

50% remaining is blown on vacations, Panthers tix, guns, cars, home theatre, etc, etc, etc.

I put 25% away, probably more than most. But I blow a crapload on toys, too. 26, single, & no kids. With my employer matching, I'm basically putting 50% of my annual salary into retirement. I will retire before I'm 50. I hate working.

[h0llywood]

I do 30% between an ira, savings account, and 401k. But I have no kids, drive a 25 year old car that I fill once a month, and no debt other than a car I bought my mom.

 

 

GEO METRO!